Novartis denies potential split with Sandoz

Published on 15/11/18 at 10:04am

Swiss newspaper Tages-Anzeiger has reported that Novartis is preparing for a split with long-term partner Sandoz. The two companies merged in 1996.

“Sandoz will be split off, that is the informal information that we have gotten,” a Tages-Anzeiger employee said to Reuters. The Swiss newspaper had previously reported that Novartis CEO Vas Narasimhan had planned to split Sandoz off from the rest of the company.

However Novartis have firmly denied the potential for a split having called the newspaper’s report “speculation”.

“We’re completely committed to the Sandoz business, and we’re looking at transforming it and making it as strong as it can be in the global generics business,” Novartis spokesman Sreejit Mohan said to Reuters.

Mohan added that retaining Sandoz was “the fundamental focus right now.” He continued in noting that: “That's essentially been the message that we've been delivering, so I have no idea how that led to saying 'split off.”

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